Choosing a reliable forex broker is a major decision in your investment plan. Therefore, we will provide a full analysis and detailed AximTrade review. In order to find the best forex broker, you need first to define what type of investor you are and your goals in currency trading. Since the forex market has become one of the fast-growing investment destinations, you’ll find many forex brokerages that offer countless features out there. Each broker has its advantages and disadvantages. You need to balance things up and choose what suits your trading goals and strategy along with safe and trusted trading.
Trading Forex with a Reliable Broker
Take your time searching for a reliable forex broker so your money and trades will be handled appropriately. The main features of a reliable broker include efficient customer support, real-time market execution, suitable trading conditions, a wide selection of account types that suits different traders depending on their financial capabilities, providing advanced software for successful trading, secure and fast money depositing and withdrawal, competitive spreads and finally but not least is offering multiple trading options with various currency pairs.
Checking the broker’s regulatory compliance is very crucial. You have to choose a regulated forex broker, which keeps you safe from scams and frauds.
The safety of your money and personal information is highly important when you open a forex account because brokers can get hacked or go bankrupt. A forex broker can also recover more than your account balance through legal action if it doesn’t offer negative balance protection; which means that you won’t be asked for more than your account balance if a position crashes.
About AximTrade: AximTrade is an online financial services provider that offers forex, indices, metal, and cryptocurrencies for trading online with over 100,000 active clients from all around the world. AximTrade stands out as a forex broker for its reliability and excellent trading conditions with flexible leverage, 100+ trading instruments, 0.004s execution speed, and up to 100% bonus.
Starting trading with a minimum deposit of $1 is one of the top privileges of AximTrade accounts and is considered among the lowest in the industry. With a fast registration and low minimum requirement to open an account, AximTrade provides unique trading opportunities for traders. The tight spreads offered by the standard accounts are highly competitive and effectively rewarding for trading opportunities.
AximTrade offers MetaTrader 4 for their clients which is available for desktop and mobile. The account types in AximTrade are divided into three types of accounts which include Cent account, Standard account, an ECN account. All three account types are available with swap-free Islamic accounts for Islamic countries. AximTrade also provides a demo account that allows traders to test out the platform before they start trading.
AximTrade MT4 – MetaTrader 4 Platform
Clients of AximTrade can trade using the MT4 trading platform for desktop Windows and MAC or mobile versions of iOS or Android. MT4 is considered the world’s most popular forex and CFD trading platform as it supports fast and quick trade executions including a one-click trading function. The MT4 platform provided by AximTrade allows various tools that can be used to conduct in-depth market analysis on the MT4 platform. The MT4 platform is extendable and can use different features via plugin apps, software expert advisors (EAs), and other trading tools that can be acquired from the MQL market. AximTrade MT4 is available for download on the website and requires you to open a forex account to be able to log in to the platform.
In the AximTrade review we inspected the specifications of the accounts. Traders can choose between various account types, based on their trading strategy, experience, and capital designed for investment. Choices include Standard, Cent, or ECN trading account. All accounts offer negative balance protection with a low spread from zero to 1 pip on all majors. Enjoy a variety of trading bonuses on all account types with a minimum deposit starting from $1. Any AximTrade client can hold up to 14 active trading accounts. You are allowed up to 7 Standard Accounts, 2 Cent accounts, and 5 ECN accounts per Active Member Area
Standard Account: The minimum deposit required to open this account is $1. The maximum leverage is 1:3000. The minimum lot that can be traded is 0.01 lots while the maximum is 50 lots. There is an average spread of 1.0 – 1.6 pips on major forex pairs. There are no trading commissions on this account and clients can open up to 200 orders at a time.
Cent Account: The minimum deposit for this account is $1 while the maximum leverage of 1:2000. The minimum amount of lots that can be traded is 0.01 lots while 150 lots is the maximum. There is an average spread of 1.0 -1.6 pips on major forex pairs. There are no trading commissions and clients can open up to 200 orders at a time. As a cent account, the lot size is 1,000.
ECN Account: The minimum deposit here is $50 while the maximum leverage is 1:1000. The minimum trade volume is 0.01 lots while the maximum tradable lot is 50 lots. The average spread is 0.2 – 0.7 pips on major forex pairs and a commission of $3 per lot is charged. Clients can open up to 200 orders at a time.
Demo Account: AximTrade Demo accounts are also available with virtual funds for trading practice and learning. The forex demo account can always be a good way to trial the AximTrade platform and services before committing to a real live trading account. The company also offers several promotions and contests for demo accounts which can allow traders to earn prizes and gifts.
Islamic Account: Swap-free accounts of the AximTrade accounts are available for customers from certain regions including Ismalic and Arabic-speaking countries.
Why Choose AximTrade?
Initially, the AximTrade review allows the customer to understand why choosing the broker and what is the main features. AximTrade is ideal for forex traders and investors who are seeking reliable conditions to access the market and start trading. Traders who prefer flexibility and fast process registration consider AximTrade one of the best choices, as it is allowing traders to start with lower capital. Therefore, the platform is continually expanding its capabilities to serve all types of traders by providing flexible leverage, low opening balance requirements, tight spreads, and effective payment methods.
While the platform is focused on providing effective forex execution, the company is adding additional assets for investors to diversify their investment portfolio. AximTrade offers the Cent account which is perfect for new forex traders, with a minimum lot size of 0.01, no deposit and withdrawal commissions and $1 minimum deposit.
- Tight spreads and low minimum balances reduce financial commitment
- Variety of account types including Standard, Cent, ECN, and Islamic
- Excellent customer service reachable through email, live chat, and more
- Fast order execution with execution speed at 0.004s
- Instant deposit and withdrawal, wide variety of payment methods
- Minimum deposit of $1 and no commission
Instant Deposits and Withdrawals
AximTrade offers Instant deposits and withdrawals for e-wallets which allow clients to have full control of their funds. With a wide range of local and international payment methods, AximTrade provides convenient ways to withdraw or deposit money and enables reliable conditions for traders. All transactions are trackable via the personal account and segregated accounts are set up in order to ensure that there is a clear and complete separation of Client funds from those of the company. Deposits to the trading account are sent to specifically designated accounts holding the funds of the clients securely. Internal transfers between accounts are instant as well which enables customers to control their funds 24/7.
Flexible Leverage up to 1:3000
AximTrade offers flexible leverage for margin trading which allows Standard accounts leverage up to 1:3000 leverage which is one of the top competitive leverage conditions. The flexibility of the leverage allows the clients to trade with a low amount of capital and the ability to access the market. For the Cent account, AximTrade offers 1:2000 while in the ECN account the leverage is up to 1:1000. The current leverage provided by AximTrade is not available for restricted countries.
Variety of Assets and Cryptocurrencies
The platform hosts a large array of currencies, indices, metals, energies, and cryptocurrencies. AximTrade offers unlimited opportunities for clients of all preferences or trading strategies to trade financial instruments. Moreover, the company continuously adds new assets to its platform. Cryptocurrencies traders have access to the top pairs including BTCUSD, ETHUSD, XRPUSD, LTCUSD. According to the AximTrade review, the platform is recently expanding its assets with more shares and instruments.
Reliable trading conditions
The platform and trading process is designed to offer an effective experience for traders with reliable trading conditions. AximTrade is one of the leaders at introducing a no re-quotes and no rejection of orders policy. The platform offers 100% execution of orders with almost all orders executed at 0.004-second execution speed. The trading platform supports market, limit, stop, and trailing stop orders. With fractional pip pricing, traders can trade with tighter spreads and enjoy the most accurate quoting possible.
Excellent Customer Support
AximTrade provides highly responsive customer support services available 24/7. The customer support channels include website chat, email, and social media and are available in more than 10 languages. The customer service team is helping traders to ensure customer success and to overcome any obstacles they encounter. Queries and comments to AximTrade can be addressed to the customer support team through the website, Facebook or LinkedIn.
Overall: Why Choose AximTrade?
Overall of AximTrade review would provide the main highlights about the broker. Initially, Aximtrade is regulated by the Financial Conduct Authority Scheme (BVIFSC) which ensures broker’s compliance with the highest international standards and best conduct of business practices. This means you won’t have to worry about your funds or the privacy and confidentiality of your transactions.
You can also choose between various account types, based on your trading strategy, experience, and capital designed for investment. Choices include Standard, Cent, or ECN trading account. Enjoy favorable trading conditions with Aximtrade; especially when it comes to margin and leverage levels. You can control your real-time risk exposure by monitoring your used and free margin as together make up your equity.
The leverage ratio depends on your account type and equity, up to 1:3000. Existing leverage can be reduced by applying custom leverage. AximTrade provides a leverage range that helps you choose your preferred risk level.
When it comes to trading platforms in the AximTrade review, you can find out that the broker provides MetaTrader 4, which is compatible with different operating systems so you can access your trading accounts anytime and anywhere. Trades are executed in real-time with no re-quotes and no rejection of orders policy. Forex Traders can execute different market orders within seconds, choose from more than 49 currency pairs and multiple indicators. Last but not least, with AximTrade you are provided around-the-clock customer support even on weekends.